John McGuinness (Carlow-Kilkenny, Fianna Fail)
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228. To ask the Minister for Finance the total number of borrowers on the National Asset Management Agency’s books, indicating whether they are individual or corporate; and with regard to both categories the number of which have agreed debt reduction strategies with the agency. [46378/14]

Michael Noonan (Limerick City, Fine Gael)
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I wish to advise the Deputy that, NAMA manages its loan portfolio on the basis of debtor connections, which may consist of one debtor or a number of closely-related debtors whose aggregate debt is considered by NAMA to be best managed as one cohesive connection rather than managed through separate debtor entities.  Debtor connections therefore can comprise both corporate and individual debtors.

NAMA's approach has been to seek to maximise debt repayment by, wherever possible, working consensually with debtors.  Where a consensual approach is not viable, NAMA exercises such enforcement options as are open to it.  An enforcement strategy is pursued by NAMA in circumstances where the debtor's business plan is not considered acceptable, the debtor is in default, the debtor is not cooperating or where some other event has occurred that could potentially threaten NAMA's position as a creditor, which would include the debtor achieving best value for money when engaging service providers. 

NAMA initially acquired loans linked to 778 debtor connections.  127 debtor connections have either repaid their debt in full or their related loans have been sold.  Of the remaining, NAMA is working consensually with 57% of debtor connections representing 72% by reference to NAMA debt.